COPPER RECYCLING CONF: Macquarie ‘very bullish’ on copper spreads
Jun 14, 2012 | 12:09 PM
Macquarie is “very bullish” on nearby London Metal Exchange copper spreads, commodities and mining research analyst Ryan Belshaw said on the sidelines of the Metal Bulletin Copper Recycling conference in Brussels on Thursday June 14.
It is likely that the steep backwardation seen in LME copper spreads in the second quarter will return later in the year, given short positioning in the market and low exchange inventories, Belshaw told Metal Bulletin.
“I’m very bullish on the spreads,....
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